VANCOUVER, March 5, 2013 /CNW/ - Eco Oro Minerals Corp. ("Eco Oro" or the "Company") (TSX: EOM), in response to statements attributed to a Colombian Government official in a news article issued during the Prospectors and Developers Association Conference in Toronto that those companies without an environmental license will lose any mineral rights that fall within the boundaries of the recently declared Regional Park of Santurban (the "Park") without compensation, Eco Oro would like to reiterate that the Company's assessment indicates that development of its Angostura deposit is not impeded by the Park.
Further to the Company's news release on January 17, 2013, Eco Oro has not received any formal notification of any plans of the Colombian government with respect to the Company's mineral tenures falling within the surface boundaries of the Park and will take all action necessary to ensure that its rights are preserved. The Company reiterates that, to the extent the Company is unable to make use of its assets, it will seek compensation from the Colombian government in accordance with applicable laws and treaties. The Company will provide updates on this matter should any significant development occur.
Eco Oro Minerals Corp. is a publicly-traded precious metals exploration and development company with a portfolio of projects in Colombia. Eco Oro has been focused on its wholly-owned, multi-million ounce Angostura gold-silver project, located in northeastern Colombia. The Angostura Project consists of the Angostura deposit and four key satellite prospects: Móngora, La Plata, Armenia and Violetal. The Company has invested over $200 million in the project's development and in that of the surrounding communities over more than 15 years. Eco Oro is committed to further advancing the Angostura Project in a socially and environmentally responsible manner that will be beneficial for all stakeholders.
For more information please visit the Company's website at www.eco-oro.com or contact:
The Toronto Stock Exchange has not reviewed
and does not accept responsibility for the adequacy or accuracy of this news release.
Certain statements in this news release are "forward-looking" within the meaning of Canadian securities legislation. They include statements about the impact of the Park on the Company's assets and business as well as future plans for its mineral and surface rights. Forward-looking statements are necessarily based upon the current belief, opinions and expectations of management that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and other contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in the forward-looking statements. These factors include, among others, political influence, government regulation as well as other risk factors set out under the heading "Risk Factors" in the Annual Information Form dated March 26, 2012, which is available on SEDAR at www.sedar.com. Investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.
SOURCE: Eco Oro Minerals Corp.
For further information:
President & CEO
Tel: +1 604 682 8212
Fiona Grant Leydier
Director, Investor Relations
Tel: +1 604 682 8212